AppLovin Co. (NASDAQ:APP) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC increased its stake in shares of AppLovin Co. (NASDAQ:APP) by 15.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,556 shares of the company’s stock after acquiring an additional 2,592 shares during the period. Corient Private Wealth LLC’s holdings in AppLovin were worth $5,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC grew its holdings in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after acquiring an additional 6,801,138 shares during the period. SVB Wealth LLC acquired a new stake in AppLovin during the fourth quarter worth about $1,781,922,000. State Street Corp grew its holdings in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares during the period. Baillie Gifford & Co. grew its holdings in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after acquiring an additional 4,010,520 shares during the period. Finally, Geode Capital Management LLC grew its holdings in AppLovin by 12.8% in the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after purchasing an additional 449,241 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares in the company, valued at $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last quarter. 14.69% of the stock is currently owned by company insiders.

AppLovin Stock Performance

Shares of AppLovin stock opened at $314.03 on Friday. AppLovin Co. has a one year low of $60.67 and a one year high of $525.15. The company has a market cap of $106.76 billion, a price-to-earnings ratio of 69.17, a PEG ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The business’s 50 day moving average price is $353.83 and its 200 day moving average price is $273.98.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, research analysts predict that AppLovin Co. will post 6.87 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on APP. JPMorgan Chase & Co. raised their price objective on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Loop Capital raised their price objective on AppLovin from $450.00 to $650.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus raised their price objective on AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Arete Research set a $200.00 price objective on AppLovin in a report on Wednesday, March 5th. Finally, Citigroup raised their price objective on AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.